Author Topic: What % of your home's value should spend on outdoor living improvements?  (Read 2093 times)

Simple Abundant Living

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I have a great backyard.  (End of cul-de-sac pie shaped 2/3 acre lot)  My home was built on spec 9 years ago.  The builder put a small (7x7?) trex deck, stepping down to a 20x20 poured concrete patio.  Although this is on the north side of my home, in the summer it is in full sun- not super inviting.  We have discussed expanding the deck or patio, but our preferred solution is to build a covered extension of the roof.  We feel that doing that will also help cool our interior spaces.  To have a licensed builder do this, it would cost approximately 4% of the current value of our home.  (We are small DIY-ers, but this is beyond our scope).  Is this a good investment?  We have no plans to sell right now, but I always think it is a possibility.  50% of the similar sized homes around us are have covered outdoor living space.

Thanks in advance for your comments! 

warfreak2

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If you want it for yourself and think it's worth the cost, do it.

Otherwise, any improvement to the house can't add more to the house's value than the cost of having the improvement done by contractors. The eventual buyer is going to have the same option, and isn't going to pay more the same improvement simply because it's already chosen for them; at best, you will find a buyer who agrees with your decision to pay for the improvement, and you'll break even. You will only make money at selling time on work that you do yourself.

Simple Abundant Living

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Well, it would make an outdoor space that is usable year-round.  So for me, I think it is worth the cost.  I'm not sure how another buyer is going to see it, other than it looks to be a popular thing to do on new homes or remodels.  We live in the dry mountain west, so if you have shade you can be comfortable even on the hottest days.  We have also struggled to find ways to keep our home cooler without cranking up the A/C.  The area that would be shaded has tons of windows and my feeling is that having it shaded has got to help in the summer.  Right now we use a whole house fan at night (sucks in cool dry air and pushes hot air out of the attic) and A/C on the hottest days- usually July-Aug. 

I was just wondering if there was some kind of guideline for how much you should spend on an outdoor living area?

warfreak2

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So for me, I think it is worth the cost.
Excellent! Enjoy your outdoor space :-)
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I was just wondering if there was some kind of guideline for how much you should spend on an outdoor living area?
I don't think there is any amount you "should" spend on anything, other than "what you're comfortable with", "no more than what it's worth to you", or "as little as you can". Any kind of guideline or rule invented by someone else that tells you how much you are supposed to spend on something is probably irrelevant to Mustachians (e.g. De Beers spreading the idea that you "should" spend two months' salary on an engagement ring).

Simple Abundant Living

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I don't think there is any amount you "should" spend on anything, other than "what you're comfortable with", "no more than what it's worth to you", or "as little as you can". Any kind of guideline or rule invented by someone else that tells you how much you are supposed to spend on something is probably irrelevant to Mustachians (e.g. De Beers spreading the idea that you "should" spend two months' salary on an engagement ring).

Oh I definitely agree with this!  You're right.  Maybe I'm just struggling to make a decision.  It is painful for mustachians to part with our $$$.  ;)